In every industry, information on customers and prospects is gathered through various interactions with the company. The volume of information is an enormous and a potentially valuable resource. Integrated intelligently, invested in wisely, and used effectively, this information can dramatically affect all parts of the business—from R&D, program management, and marketing & sales, through distribution and on-going customer support. It can be used to increase customer retention, increase future profits, provide direction for product portfolio development, and offer efficient opportunities for more effective market differentiation.
And yet, because of internal practices, information is viewed as a cost to be minimized and data is managed for specific, fragmented purposes. The lack of information integrators with the technology and experience to develop actionable connectivity with data ensures that profitable utilization seldom happens. Customer information remains a fragmented and vastly underutilized resource.